XAU/USD Signal- Feb. 18, 2013

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By: DailyForex.com

The ounce of gold broke an important support last Friday at $1626 in high volumes. Despite the possibility of a pullback on the old support, investors will be bearish on the yellow metal to support the major support of the pair at $1,530.
Direction: Down
Entry: $1,610
Stop-Loss: $1660
Take-Profit: $1,535

XAUUSD Signal 21813

Maxime Parra has been trading since the age of 18, and he is now in charge of technical and fundamental analysis at BNRY.com and Tmarkets.com. Fascinated by the psychology of financial markets and technical analysis, he is also the head of the “Fédération Sud Finance” and is preparing for the Degree of the Chartered Financial Analyst (CFA) level 1 at the SKEMA Business School. Maxime favors trend following strategies by combining chartist analysis with the use of technical indicators.